Institution For Savings In Newburyport And Its Vicinity Mortgage Rates, Fees & Info

Newburyport, MA

LEI: 5493001QVY14BXG42N39

Tax ID: 04-1471660

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Bank Data

  • Branches
  • Income
  • Loan Types
  • Deposit Mix
  • Loan Performance
  • Assets
  • Business Loans

    • Review & Overview

    Institution For Savings In Newburyport And Its Vicinity is a smaller mortgage company specializing in Refi and Home Purchase loans. Institution For Savings In Newburyport And Its Vicinity has a high proportion of conventional loans. Their top markets by origination volume include: Boston, Barnstable Town, Portland, Manchester, and Worcester among others. We have data for 11 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Institution For Savings In Newburyport And Its Vicinity has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Institution For Savings In Newburyport And Its Vicinity is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.

    We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    Home Equity Line of Credit (HELOC) 5.82% 11/21/24
    30 Year Conventional Purchase 5.58% 11/21/24
    30 Year Conventional Refi 5.76% 11/21/24
    15 Year Conventional Purchase 4.81% 11/21/24
    15 Year Conventional Refi 5.26% 11/21/24
    15 Year Cash-out Refi 5.26% 11/21/24
    These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.

    Institution For Savings In Newburyport And Its Vicinity Mortgage Calculator






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    The default purchase price is the median sales price across the US for 2022Q4, per FRED.


    Originations

    1,147

    Origination Dollar Volume (All Markets)

    $555,335,000

    Employee count

    174

    Top Markets

    Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.

    Market Originations Total Value Average Loan Average Fees Average Rate
    Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 1,095 $522,385,000 $477,064 $3,107 3.12%
    BARNSTABLE TOWN, MA (FHA|USDA|VA) 20 $16,040,000 $802,000 $3,746 3.03%
    PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) 9 $4,825,000 $536,111 $3,803 3.04%
    MANCHESTER-NASHUA, NH (FHA|USDA|VA) 6 $2,900,000 $483,333 $3,271 3.37%
    Outside of Metro Areas 4 $2,670,000 $667,500 $3,460 2.84%
    WORCESTER, MA-CT (FHA|USDA|VA) 5 $2,425,000 $485,000 $2,930 2.80%
    PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 4 $1,800,000 $450,000 $2,848 3.34%
    Vineyard Haven, MA (FHA|USDA|VA) 1 $965,000 $965,000 $6,504 2.99%
    Laconia, NH (FHA|USDA|VA) 1 $765,000 $765,000 $3,000 2.99%
    Concord, NH (FHA|USDA|VA) 1 $295,000 $295,000 $2,425 2.75%
    Berlin, NH (FHA|USDA|VA) 1 $265,000 $265,000 $2,409 2.75%
    Institution For Savings In Newburyport And Its Vicinity's top markets include Boston, Barnstable Town, Portland, Manchester, and Worcester among others.

    Their top states include:
  • Massachusetts (FHA|USDA|VA)
  • New Hampshire (FHA|USDA|VA)
  • Maine (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against Institution for Savings in Newburyport and Its Vicinity based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    CUMBERLAND COUNTY
    Similarity Rank: 176
    TOWN & COUNTRY FEDERAL CREDIT UNION
    Similarity Rank: 222
    LUSO-AMERICAN CREDIT UNION
    Similarity Rank: 258
    CASCO
    Similarity Rank: 324
    Piscataqua Savings Bank
    Similarity Rank: 446
    Maine Savings Federal Credit Union
    Similarity Rank: 476
    FIVE COUNTY
    Similarity Rank: 484
    Kennebec Savings Bank
    Similarity Rank: 490
    COMMUNITY CREDIT UNION OF LYNN
    Similarity Rank: 525
    CUSO MORTGAGE CORPORATION
    Similarity Rank: 534

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,147 $555,335,000 $484,163 $3,127 3.11%

    For 2020, Institution For Savings In Newburyport And Its Vicinity's most frequently originated type of loan was Conventional, with 1,147 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 751 $321,795,000 $428,489 $2,833 3.06%
    Home Purchase 362 $222,130,000 $613,619 $3,800 3.20%
    Other 19 $6,045,000 $318,158 $2,495 3.34%
    Home Improvement 15 $5,365,000 $357,667 $3,101 3.11%

    For 2020, Institution For Savings In Newburyport And Its Vicinity's most frequently cited loan purpose was Refi, with 751 originations. The 2nd most popular reason was Home Purchase, with 362 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 558 $292,340,000 $523,907 $3,454 3.26%
    20 Year 256 $99,810,000 $389,883 $2,767 3.02%
    15 Year 193 $72,745,000 $376,917 $2,737 2.86%
    10 Year 117 $66,105,000 $565,000 $2,595 2.90%
    Other 19 $21,875,000 $1,151,316 $5,418 3.87%
    30+ year 3 $1,485,000 $495,000 $10,077 3.04%
    1 Year 1 $975,000 $975,000 $0 5.75%

    For 2020, Institution For Savings In Newburyport And Its Vicinity's most frequently cited loan duration was 30 Year, with 558 originations. The 2nd most popular length was 20 Year, with 256 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 988 $420,340,000 $425,445
    $1k-2k 65 $53,895,000 $829,154
    $5k+ 13 $8,575,000 $659,615
    $2k-3k 10 $3,470,000 $347,000
    $3k-4k 6 $2,110,000 $351,667
    $4k-5k 3 $1,315,000 $438,333

    Institution For Savings In Newburyport And Its Vicinity's average total fees were $3,454, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 988 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 609 $279,485,000 $458,924
    3-4% 424 $218,000,000 $514,151
    <2.5% 74 $26,340,000 $355,946
    4-5% 36 $30,140,000 $837,222
    5-6% 4 $1,370,000 $342,500

    During 2020, Institution For Savings In Newburyport And Its Vicinity's average interest rate for loans was 3.26%, while their most frequently originated rate bucket for loans was 2.5-3%, with 609 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 472 $137,890,000 $292,140 $2,669 3.07%
    $400k-600k 234 $113,780,000 $486,239 $3,315 3.13%
    $600k-1MM 206 $158,060,000 $767,282 $3,957 3.14%
    $100k-200k 147 $22,435,000 $152,619 $2,270 3.03%
    $1MM+ 80 $122,700,000 $1,533,750 $5,547 3.32%
    $100,000 or less 8 $470,000 $58,750 $707 4.06%

    2020 saw Institution For Savings In Newburyport And Its Vicinity place emphasis on $200k-400k loans with 472 originations, totaling $137,890,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 368 $164,070,000 $445,842 $3,176 3.06%
    $250k+ 291 $207,865,000 $714,313 $3,695 3.02%
    $100k-150k 215 $70,785,000 $329,233 $2,888 3.13%
    $50k-75k 100 $21,960,000 $219,600 $2,546 3.14%
    $75k-100k 93 $23,375,000 $251,344 $2,609 3.15%
    $50k or less 15 $2,005,000 $133,667 $1,956 3.02%

    Institution For Savings In Newburyport And Its Vicinity lent most frequently to those with incomes in the $150k-250k range, with 368 originations. The second most popular income band? $250k+, with 291 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 369 $168,575,000 $456,843 $3,002 3.08%
    30-36% 224 $105,770,000 $472,188 $3,437 3.06%
    <20% 198 $86,040,000 $434,545 $2,943 2.99%
    36% 49 $21,875,000 $446,429 $3,289 3.15%
    37% 47 $20,285,000 $431,596 $3,095 3.02%
    38% 42 $18,010,000 $428,810 $3,144 3.07%
    39% 39 $15,225,000 $390,385 $2,823 3.14%
    41% 30 $12,660,000 $422,000 $3,217 3.13%
    40% 29 $14,685,000 $506,379 $3,294 3.13%
    42% 28 $12,700,000 $453,571 $3,173 2.99%
    43% 10 $4,590,000 $459,000 $3,467 3.56%
    45% 9 $3,205,000 $356,111 $3,515 3.11%
    44% 8 $3,190,000 $398,750 $2,959 3.25%
    50-60% 5 $3,015,000 $603,000 $3,128 3.30%
    48% 4 $1,500,000 $375,000 $2,998 3.25%
    46% 2 $470,000 $235,000 $2,371 3.75%
    >60% 1 $425,000 $425,000 $3,279 3.50%
    47% 1 $555,000 $555,000 $9,312 2.88%
    49% 1 $155,000 $155,000 $2,331 2.75%

    Institution For Savings In Newburyport And Its Vicinity lent most frequently to those with DTI ratios of 20-30%, with 369 originations. The next most common DTI ratio? 30-36%, with 224 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 859 $371,295,000 $432,241 $3,111 3.09%
    Not provided 192 $91,300,000 $475,521 $3,127 3.02%
    Not applicable 46 $59,010,000 $1,282,826 $0 4.01%
    Asian 32 $22,260,000 $695,625 $3,585 3.04%
    Asian Indian 9 $6,525,000 $725,000 $3,215 3.07%
    Black 7 $3,705,000 $529,286 $2,936 3.12%
    American Indian 2 $1,240,000 $620,000 $3,285 2.99%

    Approval Rates

    Total approvals of all applications
    94.81%

    Institution For Savings In Newburyport And Its Vicinity has an average approval rate.

    Pick Rate

    Approvals leading to origination
    77.51%

    Institution For Savings In Newburyport And Its Vicinity has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 1,147 $555,335,000 $484,163

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 21 $38,225,000 $1,820,238
    Single Family (1-4 Units):Site-Built 1,126 $517,110,000 $459,245

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 200 $52,560,000 $262,800 $2,485 3.01%
    40-60% 300 $122,910,000 $409,700 $2,861 3.04%
    60-80% 474 $279,060,000 $588,734 $3,382 3.19%
    80-100% 146 $92,270,000 $631,986 $3,949 3.11%
    Over 100% 1 $3,085,000 $3,085,000 $0 4.50%
    Under 20% 26 $5,450,000 $209,615 $2,124 3.22%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Institution For Savings In Newburyport and Its Vicinity 112 County Road Ipswich, MA 1938 Full Service B&M $70,731
    Institution For Savings In Newburyport and Its Vicinity 150 Main Street Amesbury, MA 1913 Full Service B&M $40,761
    Institution For Savings In Newburyport and Its Vicinity 161 South Main Street Middleton, MA 1949 Full Service B&M $343,045
    Institution For Savings In Newburyport and Its Vicinity 2-8 Depot Square Ipswich, MA 1938 Full Service B&M $342,377
    Institution For Savings In Newburyport and Its Vicinity 312 Haverhill Street Rowley, MA 1969 Full Service B&M $243,524
    Institution For Savings In Newburyport and Its Vicinity 37 King Street Rockport, MA 1966 Full Service B&M $159,045
    Institution For Savings In Newburyport and Its Vicinity 4 Colon Street Beverly, MA 1915 Full Service B&M $132,714
    Institution For Savings In Newburyport and Its Vicinity 4 Parker St. Gloucester, MA 1930 Full Service B&M $155,854
    Institution For Savings In Newburyport and Its Vicinity 5 Main Street Topsfield, MA 1983 Full Service B&M $165,569
    Institution For Savings In Newburyport and Its Vicinity 545 Bay Road Hamilton, MA 1936 Full Service B&M $44,864
    Institution For Savings In Newburyport and Its Vicinity 6 Paradise Rd Salem, MA 1970 Full Service B&M $105,724
    Institution For Savings In Newburyport and Its Vicinity 7 Bridge Road Salisbury, MA 1952 Full Service B&M $179,657
    Institution For Savings In Newburyport and Its Vicinity 7 Elm Street Boxford, MA 1921 Full Service B&M $42,975
    Institution For Savings In Newburyport and Its Vicinity 93 State Street Newburyport, MA 1950 Full Service B&M $515,497
    Institution For Savings In Newburyport and Its Vicinity Storey Avenue And Woodmen Way Newburyport, MA 1950 Full Service B&M $415,248

    For 2020, Institution For Savings In Newburyport And Its Vicinity had 15 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $120,534
    Net interest income $71,301
    Total noninterest income $6,153
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $342
    Trading account gains and fees $0
    Additional Noninterest Income $5,811
    Pre-tax net operating income $27,845
    Securities gains (or losses, -) $27,540
    Income before extraordinary items $46,370
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $46,370
    Minority interest net income $0
    Net income $46,370
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $23,236

    Institution For Savings In Newburyport And Its Vicinity's gross interest income from loans was $120,534,000.
    Institution For Savings In Newburyport And Its Vicinity's net interest income from loans was $71,301,000.
    Institution For Savings In Newburyport And Its Vicinity's fee based income from loans was $342,000.
    Institution For Savings In Newburyport And Its Vicinity's net income from loans was $46,370,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $49,233
    Provision for credit losses $1,600
    Total noninterest expense $48,009
    Salaries and employee benefits $27,960
    Premises and equipment expense $5,964
    Additional noninterest expense $14,085
    Applicable income taxes $9,015
    Net charge-offs $-1
    Cash dividends $0

    Institution For Savings In Newburyport And Its Vicinity's interest expense for loans was $49,233,000.
    Institution For Savings In Newburyport And Its Vicinity's payroll and benefits expense were $27,960,000.
    Institution For Savings In Newburyport And Its Vicinity's property, plant and equipment expenses $5,964,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 0.0%
    Real Estate loans 0.0%
    Construction & Land Development loans 0.0%
    Nonfarm, nonresidential loans 0.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 0.0%
    HELOC loans 0.0%
    All other family 0.0%
    Commercial & industrial loans 0.0%
    Personal loans 0.0%
    Credit card loans 0.0%
    Other individual loans 0.0%
    Auto loans 0.0%
    Other consumer loans 0.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $3,075,264
    Deposits held in domestic offices $3,075,264
    Deposits by Individuals, partnerships, and corporations $2,991,341
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $83,923
    Deposits by Commercial banks and other depository institutions in U.S. $0
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $443,773
    Demand deposits $208,952
    Nontransaction accounts $2,631,491
    Money market deposit accounts (MMDAs) $675,570
    Other savings deposits (excluding MMDAs) $494,027
    Total time deposits $1,461,894
    Total time and savings deposits $2,866,312
    Noninterest-bearing deposits $208,427
    Interest-bearing deposits $2,866,837
    Retail deposits $2,597,851
    IRAs and Keogh plan accounts $212,513
    Brokered deposits $7,730
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $3,964,932
    Cash & Balances due from depository institutions $441,551
    Interest-bearing balances $429,429
    Total securities $539,415
    Federal funds sold & reverse repurchase $2,456
    Net loans and leases $2,781,632
    Loan and leases loss allowance $14,323
    Trading account assets $0
    Bank premises and fixed assets $39,139
    Other real estate owned $0
    Goodwill and other intangibles $11,456
    All other assets $149,283

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $3,964,932
    Total Liabilities $3,509,041
    Total deposits $3,075,264
    Interest-bearing deposits $2,866,837
    Deposits held in domestic offices $3,075,264
    % insured (estimated) $72
    Federal funds purchased and repurchase agreements $13,719
    Trading liabilities $0
    Other borrowed funds $398,541
    Subordinated debt $0
    All other liabilities $21,517

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $2,781,632
    Loan and leases loss allowance $14,323
    Total loans and leases (domestic) $2,795,955
    All real estate loans $2,755,025
    Real estate loans in domestic offices $2,755,025
    Construction and development loans $36,569
    Residential 1-4 family construction $12,985
    Other construction, all land development and other land $23,584
    Loans secured by nonfarm nonresidential properties $337,700
    Nonfarm nonresidential secured by owner-occupied properties $110,265
    Commercial real estate & other non-farm, non-residential $227,435
    Multifamily residential real estate $170,321
    1-4 family residential loans $2,210,435
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $31,853
    To non-U.S. addressees $0
    Loans to individuals $9,077
    Credit card loans $0
    Related Plans $225
    Consumer Auto Loans $0
    Other loans to individuals $8,852
    All other loans & leases $0
    Loans to foreign governments and official institutions $0
    Other loans $0
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $0
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $1,994
    Non 1-4 family restructured loans & leases $1,744
    Total loans and leases (foreign) $0

    Institution for Savings in Newburyport and Its Vicinity had $2,781,632,000 of loans outstanding in 2020. $2,755,025,000 of loans were in real estate loans. $36,569,000 of loans were in development loans. $170,321,000 of loans were in multifamily mortgage loans. $2,210,435,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $0 of loans were in the auto loan category.

    Small Business Loans

    Categorization # of Loans in Category $ amount of loans (in 000's) Average $/loan
    Nonfarm, nonresidential loans - <$1MM 233 $69,011 $296,185
    Nonfarm, nonresidential loans - <$100k 22 $878 $39,909
    Nonfarm, nonresidential loans - $100-250k 58 $6,153 $106,086
    Nonfarm, nonresidential loans - $250k-1MM 153 $61,980 $405,098
    Commercial & Industrial, US addressed loans - <$1MM 385 $26,026 $67,600
    Commercial & Industrial, US addressed loans - <$100k 290 $7,111 $24,521
    Commercial & Industrial, US addressed loans - $100-250k 61 $7,071 $115,918
    Commercial & Industrial, US addressed loans - $250k-1MM 34 $11,844 $348,353